November 28, 2016 - By Richard Conner
The director of Avery Dennison Corp, Peter Barker is in the stock market news today. It was stated in a form filled by Peter Barker and submitted to the SEC on November 28, 2016, he unloaded 2,000 shares from the California-based Avery Dennison Corp worth $143,275 U.S Dollars. The unloaded shares average price was $71.6. Currently, he owns a total of 22,458 shares or 0.02% of the Company’s market cap (total dollar market value of all company’s outstanding shares).
Out of 4 analysts covering Avery Dennison (NYSE:AVY), 2 rate it a “Buy”, 1 “Sell”, while 1 “Hold”. This means 50% are positive. $86 is the highest target while $66 is the lowest. The $75.50 average target is 4.04% above today’s ($72.57) stock price. Avery Dennison has been the topic of 8 analyst reports since October 15, 2015 according to StockzIntelligence Inc. Bank of America downgraded Avery Dennison Corp (NYSE:AVY) on Friday, July 1 to “Underperform” rating. As per Monday, May 2, the company rating was maintained by Barclays Capital. The stock of Avery Dennison Corp (NYSE:AVY) earned “Overweight” rating by JP Morgan on Thursday, October 27. The firm has “Neutral” rating given on Friday, May 20 by JP Morgan. Aegis Capital initiated the shares of AVY in a report on Monday, November 21 with “Hold” rating.
Insitutional Activity: The institutional sentiment increased to 0.96 in Q2 2016. Its up 0.10, from 0.86 in 2016Q1. The ratio increased, as 38 funds sold all Avery Dennison Corp shares owned while 178 reduced positions. 48 funds bought stakes while 137 increased positions. They now own 74.71 million shares or 10.44% less from 83.42 million shares in 2016Q1.
Asset Management reported 5,737 shares or 0.09% of all its holdings. State Treasurer State Of Michigan last reported 0.02% of its portfolio in the stock. Parasol Inv Mngmt Limited Liability Co accumulated 475 shares or 0.04% of the stock. The Massachusetts-based Penobscot Inv Management has invested 0.18% in Avery Dennison Corp (NYSE:AVY). The Illinois-based Geneva Advsrs Limited Company has invested 0.43% in Avery Dennison Corp (NYSE:AVY). Legg Mason Asset (Japan) Limited accumulated 1.74% or 21,700 shares. State Board Of Administration Of Florida Retirement, a Florida-based fund reported 130,169 shares. The Colorado-based Icon Advisers Incorporated Communications has invested 0.04% in Avery Dennison Corp (NYSE:AVY). Glob X Mgmt Ltd Liability, a New York-based fund reported 12 shares. Bowling Port Mngmt Lc has 78,376 shares for 0.96% of their US portfolio. Millennium Mngmt Ltd Liability has 182,537 shares for 0.03% of their US portfolio. Bnp Paribas Arbitrage Sa reported 97,466 shares or 0.03% of all its holdings. Kanaly Trust Communications holds 0.01% of its portfolio in Avery Dennison Corp (NYSE:AVY) for 334 shares. Putnam Invs Limited Liability Corporation, a Massachusetts-based fund reported 109,974 shares. Chevy Chase Tru Holding Inc holds 76,676 shares or 0.03% of its portfolio.
Insider Transactions: Since June 1, 2016, the stock had 1 buying transaction, and 16 sales for $40.80 million net activity. Miller Susan C sold $155,880 worth of Avery Dennison Corp (NYSE:AVY) on Monday, August 1. 30,000 Avery Dennison Corp (NYSE:AVY) shares with value of $2.29M were sold by Hill Anne. SCARBOROUGH DEAN A sold $3.93 million worth of stock. Bondar Lori J also bought $139,440 worth of Avery Dennison Corp (NYSE:AVY) shares. GRAVANIS GEORGES also sold $3.04 million worth of Avery Dennison Corp (NYSE:AVY) on Thursday, July 28. Shares for $157,220 were sold by PYOTT DAVID E I. The insider HICKS KEN C sold 5,000 shares worth $381,150.
The stock increased 1.20% or $0.86 during the last trading session, hitting $72.57. About 842,573 shares traded hands. Avery Dennison Corp (NYSE:AVY) has declined 1.48% since April 25, 2016 and is downtrending. It has underperformed by 7.50% the S&P500.
Avery Dennison Corporation is engaged in the production of pressure-sensitive materials and a range of tickets, tags, labels and other converted products. The company has a market cap of $6.50 billion. The Company’s pressure-sensitive materials are sold to label printers and converters that convert the materials into labels and other products through embossing, printing, stamping and die-cutting. It has a 20.99 P/E ratio. The Company’s operational divisions include Pressure-sensitive Materials (PSM), Retail Branding and Information Solutions (RBIS), and Vancive Medical Technologies (Vancive).
According to Zacks Investment Research, “Avery Dennision Corporation produces pressure-sensitive adhesives and materials and the production of consumer and converted products. Some pressure-sensitive adhesives and materials are converted into labels and other products through embossing, printing, stamping and die-cutting, and some are sold in unconverted form as base materials, tapes and reflective sheeting. The company also manufactures and sells a variety of consumer and converted products and other items not involving pressure-sensitive components, such as notebooks, three-ring binders, among others.”
Analysts await Avery Dennison Corp (NYSE:AVY) to report earnings on February, 1. They expect $0.93 EPS, up 9.41% or $0.08 from last year’s $0.85 per share. AVY’s profit will be $83.30M for 19.51 P/E if the $0.93 EPS becomes a reality. After $1.01 actual EPS reported by Avery Dennison Corp for the previous quarter, Wall Street now forecasts -7.92% negative EPS growth.
Avery Dennison Corporation (Avery Dennison), incorporated on February 23, 1977, is engaged in the production of pressure-sensitive materials and a range of tickets, tags, labels and other converted products. The Company’s pressure-sensitive materials are sold to label printers and converters that convert the materials into labels and other products through embossing, printing, stamping and die-cutting. The Company’s divisions include Pressure-sensitive Materials (PSM), Retail Branding and Information Solutions (RBIS), and Vancive Medical Technologies (Vancive). It also sells pressure-sensitive materials in converted form as tapes and reflective sheeting. The Firm also makes and sells a range of other converted products and items not involving pressure-sensitive components, such as fasteners, tickets, tags, radio-frequency identification (RFID) inlays and tags, and imprinting equipment and related services, which it markets to retailers, and apparel manufacturers and brand owners.
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